Investment Company Institute

So Americans, Steve, they still have an enormous amount of money sitting in money market funds.

Uh, Investment Company Institute, the ICI, this data showed that total money market fund assets at about 7.92 trillion, with a T, as of mid-September of this year.

At some point, temporary cash can quietly become a long-term investment decision, so I've got some questions for you, and you can enlighten us.

How, how do you know when a healthy cash reserve has quietly become too much cash?

I'm really thrilled to be here today.

So when you look across ICI's data, how would you characterize the state of active management today? What stands out most about how active management is evolving?

Well, I think you hit the nail on the head.

I agree with you.

Now, you make a good point.

And I kind of want to go back to the end there when you talk about index investing, because I think when a lot of people talk about the growth of passive investing, you know, what was happening kind of before the whole recent surge in active, you know, we often treat active and passive as competing for the same dollar.

But, you know, from ICI's research, it sounds like the investor or advisor behavior isn't that straightforward.

Now, from my perspective, I don't believe the industry is a zero-sum competition between active and index.

Nine trade groups also backed the proposal in a joint statement.

Among the signatories were the Alternative Investment Management Association, the Investment Advisor Association, the Investment Company Institute, the Managed Funds Association, and SIFMA.

Senator Elizabeth Warren did oppose the proposal, warning it would let officials reward campaign donors with lucrative contracts.

Comments are due regarding the proposed rescission 60 days after publication in the Federal Register.